Uber is about to make a ton of millionaires, and to think it only took the mass displacement of tens of thousands taxi drivers around the world and a driver payment scheme likened to that of payday loans with 25% interest rates. But hey, how are Uber tech bros and rich East Asians supposed to know/care when daddy paid for their higher education with the money he earned exploiting another group of workers. Uber is the biggest legal wage theft scam to date. Hope it goes out in smoke.

Not sure it'll make as many millionaires as you think. They withheld around 36 percent of stock at ipo for tax withholding. When people sell in 180 days, if you assume the price doesn't change, people will find the withholding was low so will owe another 12 percent federal and a few percent Cali. You'd need over 40k shares to net 1 million. How many Uber employees have more than 40k vested rsu?

Taxi was a disgusing monopoly and terrible service in most places. Unless they actually owned the medallion (instead of renting it), taxi didn't make more than uber drivers. Not to mention how inefficient it all was of them driving idle and useless radio dispatch center.

"That this was a potential problem has been vaguely acknowledged (at least in departmental chit-chat, if not in any change in behaviour) ever since psychologists started just doing all their testing on their own undergraduates, but was really bludgeoned home by the 2010 meta-analysis "The weirdest people in the world?"[2]y Joseph Henrich, Steven J. Heine and Ara Norenzayan, in which they trivially showed several claims of universal human behaviour to be nothing of the sort"

My morality is unimportant. I'm one guy, and my existence is utterly unimportant. The point is, universal morality is a claim that needs defending when there's enough evidence that even within cultures, morality is fragmented. For an American readership, I'd highly recommend Jonathan Haidt's Righteous Mind.

I guess what I'm asking for is a description of another morality that is different from the one in the west. I'm not trying to pick on you, but all you're doing is saying that it's not the only one and not following up with anything else.

Cerner, why so triggered ... Just trying to edify. Of course you don't care (my mom does though, lol) - you're in the billions who don't read. Now some proof would be good - or will you quote Huffpo as science?

Buddy of mine joined Uber 3 years ago with a pre-ipo stock price of $48 a share, and left for a FANG after his first year vested. Was high rolling the last 3 weeks taking us all out to dinner and drinks, and then shit himself when he saw the price.

@n0v finally something we agree on. Apple hasn’t innovated since Job’s death. Really the only thing Tim has managed to do is cultivate a safe space culture for SJWs and perfect virtue signaling at the expense of innovation.

You can just built the right product and nail it. Example Apple Watch, pay, music. Btw someone saying apple is living on mercy of iPhone. How can someone be so dumb ? iPhone is apple product, if no apple there will be no iPhone. How many products apple has ? Do I ever count ? Apple doesn’t go with prototypes like Samsung folding phones and then retract them. Apple strikes it when the right time. You guys won’t understand the philosophy. Bs

The gig economy depends on disposable income and in the next recession there will be no disposable income. Given Uber has low margins as it is, I foresee headwinds and disaster with the looming economic downturn. Nothing is too big to fail. The world is filled with examples of gods and giants falling.

Everyone bashing Uber, we need to understand this: someone has to die for someone else to prosper. Some people in the Middle East has to die for the West to control oil prices. It's the order of nature. More humans on this planet = more animals getting wiped out/killed for food.

Uber hasn't done anything particularly wrong except capitalise on a market that didn't exist and provide end users with an excellent service that didn't exist before. You lose something to get something. On ethical grounds, they are no different than Amazon.

Congratulations to all the hard working engineers and architects at Uber for building an excellent platform so Dara & his big wigs can cash in 300x on your hard labor!

I don't understand what the unique value proposition of Uber is. It is currently not a profitable business. People and driver's will easily move to another service if they offer better rates. Their maps suck. They are not the leaders in the self driving tech.

The IPO feels like Ubers way of making the employees rich for their efforts to get cheap rides for everyone so far.

IPOs are supposed to be a funding round, just with the public rather than private investors. So it doesn’t necessarily make sense for a company to be profitable at IPO, they should theoretically still be focused entirely on growth.

But I agree that there is no first-mover advantage in ride-sharing. Uber May have just cleared a path (costly legislation/regulation changes) for others to blaze through.

They usually extend offer with 1 week ‘deadline’. What it means is that they hold the position for you for one week. If deadline is due and you don’t accept, they will hand out offer to others. If they don’t have other candidates or other candidates decline their offer then yes, most likely they will still take you if you decided to join latter. But there is a chance that the position could be gone and they are hiring by position so your offer is no longer valid in that case.

That's not correct. Über would be the right version if it was used as a noun in German. There is no Uber or uber in German. But Über as noun in German has a connotation of the Nazi term Übermensch which was the first thought I had when I heard the company name for the first time some years ago...

If people omit the dots on capital or lowercase letters (due to lack of keyboard or glyphs to print) they will need to append a lowercase e after the umlaut character, like Ueber instead of Über. Which is semi-correct German spelling, but generally understandable and acceptable ;)

If Uber underwithheld at 36% (instead of 48%), and the share price declines 35% by expiration of lockup, employees will be left with 30 cents on the dollar of their RSU package. Fingers crossed that we will avoid another explosion of tech dorks destroying local property markets...

With 180 million shares outstanding, I don’t believe I could move the market. I’m just looking at Lyft’s revenue multiple. They trade around 5x revenue. Applying that to Uber gives you about $65B valuation. Add some more for Didi, Grab, etc. and more interesting “story.” So maybe $72B. It’s not me, it’s the market.

CONGRATULATIONS UBER! You have successfully become the shining example of what kind of culture not to have, whilst ripping off thousands of drivers and making their lives miserable. You did it! You should be proud of yourselves! All for &lt 40$ per stock.

Sell Uber and buy Tesla - the only potencially robo-taxi company. Later Google will also enter the market. As for Uber/Lyft/Careem it is not profitable nor sustainable, unless they double the price and in that case they will loose the market (to local taxi companies)

Well All the car in world can be used for Uber but for Tesla robo taxi they need new cars. Elon can ask Tesla owners for their cars to be used as robotaxi and share some profit. Car can drop you to work and work for you as robotaxi and come back to pick you up when asked for.

Thinking of all the Tesla owners I know, not a single one would opt into robo-taxi. The expensive techie status symbol is diluted quite a bit the first time a drunk high-schooler throws up in your back seat.